renkoron,
the only thing I've accomplished on Renko is working with QuoteTracker to get them to correct the way they calculate their Renko chart. Since I was the only one to notice they were doing it wrong, perhaps I earned a few brownie points; so, after everything was fixed, I made suggestions for new features, such as brick size based on % of price, and brick size based on % of ATR. We'll see what happens in due time.
Meanwhile, I'm looking at the Renko calculation as a means of filtering daily data to minimize daily trading noise, then I'm going to add the filter to my existing Daily Trend Model (DTM) to see if it improves results during backtests. For instance, instead of candles showing OHLC data, I'll generate new "candles" with only HL data (no tails, just a body) wherein the candle body size is determined by Renko rules applied to daily HL price data, then I'll plot that on a standard candlestick chart, as opposed to a Renko chart. The result will be a candle chart just like any other candle chart except the candles will not have tails and the body sizes will be integer multiples of brick sizes ... if you know what I mean. The old DTM has been working very well when the market is trending, but it works poorly when the market is in consolidation phase (such as it has been for two months now). So, my goal is to make a new DTM that works better in sideways markets.
But I got distracted. Setting aside the DTM improvement for a while, I started working on a new intraday trading model. For that, I am not interested in Renko. I am very interested in using VWAP in conjunction with EVWMA(0.2) to time the trade on a 15m chart under preconditions determined by some combination of coincident indicators selected from TMF, SMI, UO, and RSI. Based on my thoughts there, today I acquired a real position in FAZ as a hedge against UYG. I also entered a multi-day limit order to close FAZ for a 22% gain. Now I can go outside and let the market take its natural course.
I would have replied sooner but you didn't address the message to me so it didn't show up in my Mailbox, and I haven't been over to this board for a while. Hope you are doing well.
